scholarly journals Crash and Wait? The Impact of the Great Recession on the Retirement Plans of Older Americans

2011 ◽  
Vol 101 (3) ◽  
pp. 40-44 ◽  
Author(s):  
Brooke Helppie McFall
Keyword(s):  
Labor Market ◽  
Great Recession ◽  
Retirement Age ◽  
Retirement Plans ◽  
Market Returns ◽  
Older Americans ◽  
Stock Market Returns ◽  
The Great Recession ◽  
Retirement Timing ◽  
The Impact

This study uses data from pre- and post-crash surveys from the Cognitive Economics study to examine the impact of recent stock and labor market wealth losses on the planned retirement ages of older Americans. Regression estimates imply that the average wealth loss between July 2008 and May/June 2009 is associated with an increase in planned retirement age of approximately 2.5 months. Furthermore, pessimism about future stock market returns is found to amplify the impact of wealth losses on retirement timing.

scholarly journals Three essays on labor economics

2021 ◽  
Author(s):  
◽  
Tapas Paul
Keyword(s):  
Labor Market ◽  
Great Recession ◽  
Labor Market Participation ◽  
Program Participation ◽  
Journal Entry ◽  
Journal Publication ◽  
The Great Recession ◽  
Added Worker Effect ◽  
Nationally Representative ◽  
The Impact

This dissertation addresses labor market issues. The first two chapters deal with employment issues during the great recession using nationally representative data from the Survey of Income and Program Participation. The first chapter looks at the added worker effect in the great recession, the wife's labor market response to a husband loss of job. The second chapter investigates the impact of a wife's labor market participation on family poverty. The third chapter examines employment opportunities in the economics discipline using journal publication records from IDEAS/RePEc. It looks at the effect of new journal entry on the distribution of publicati

scholarly journals Temping fates in Spain: hours and employment in a dual labor market during the Great Recession and COVID-19

SERIEs ◽  
2021 ◽  
Author(s):  
Cristina Lafuente ◽  
Raül Santaeulàlia-Llopis ◽  
Ludo Visschers
Keyword(s):  
Labor Market ◽  
Great Recession ◽  
Dual Labor Market ◽  
Total Employment ◽  
Temporary Contracts ◽  
The Great Recession ◽  
Time Work ◽  
Short Time ◽  
Permanent Workers ◽  
The Impact

AbstractWe investigate the behavior of aggregate hours supplied by workers in permanent (open-ended) contracts and temporary contracts, distinguishing changes in employment (extensive margin) and hours per worker (intensive margin). We focus on the differences between the Great Recession and the start of the COVID-19 Recession. In the Great Recession, the loss in aggregate hours is largely accounted for by employment losses (hours per worker did not adjust) and initially mainly by workers in temporary contracts. In contrast, in the early stages of the COVID-19 Recession, approximately sixty percent of the drop in aggregate hours is accounted for by permanent workers that do not only adjust hours per worker (beyond average) but also face employment losses—accounting for one-third of the total employment losses in the economy. We argue that our comparison across recessions allows for a more general discussion on the impact of adjustment frictions in the dual labor market and the effects policy, in particular the short-time work policy (ERTE) in Spain.

scholarly journals Educational Attainment and Nonwage Labor Market Returns in the United States

AERA Open ◽  
2019 ◽  
Vol 5 (3) ◽  
pp. 233285841987405
Author(s):  
Lauren Schudde ◽  
Kaitlin Bernell
Keyword(s):  
United States ◽  
Labor Market ◽  
Educational Attainment ◽  
The United States ◽  
Employment Outcomes ◽  
Retirement Plans ◽  
Market Returns ◽  
Labor Market Returns ◽  
Nationally Representative ◽  
The Impact

Although decades of research highlight the impact of schooling on earnings, less evidence exists regarding other employment outcomes. Nonwage labor market returns to education are important in the United States, where health insurance and retirement income are typically tied to employment. Using longitudinal, nationally representative data, we examine the role of educational attainment in predicting nonwage employment outcomes and control for a host of individual and institutional measures. Even after controlling for individual and institutional characteristics, results indicate that educational attainment predicts employment and markers of “good” jobs, like access to employer-provided health and dental insurances, retirement plans, and paid leave. Furthermore, by delineating between various subbaccalaureate levels of college attainment, our results illustrate the complex variation in returns to college for those who did not complete a 4-year degree.

The Great Recession and Life Satisfaction

2017 ◽  
Author(s):  
John Ifcher ◽  
Amanda Cabacungan
Keyword(s):  
Life Satisfaction ◽  
Great Recession ◽  
Housing Price ◽  
Well Being ◽  
Wealth Effects ◽  
Retirement Age ◽  
Behavioral Risk ◽  
Subjective Well Being ◽  
The Great Recession ◽  
The Impact

Using data from the US Centers for Disease Control and Prevention’s Behavioral Risk Factor Surveillance System, we examine the impact of the Great Recession on subjective well-being (as measured by life satisfaction) and attempt to identify disparate effects by age. We find that those approaching retirement age (aged 55 to 64) experienced reduced life satisfaction after the recession, whereas younger working-aged adults did not. The disparate effects by age cannot be explained by income or unemployment trends, but may be explained by wealth effects. For example we find that the life satisfaction of those approaching retirement age, but not of younger working-age adults, is closely correlated with wealth indices (e.g. the Case–Shiller Housing Price Index and the S&P 500 Index).

scholarly journals What Explains Changes in Retirement Plans during the Great Recession?

2011 ◽  
Vol 101 (3) ◽  
pp. 29-34 ◽  
Author(s):  
Gopi Shah Goda ◽  
John B Shoven ◽  
Sita Nataraj Slavov
Keyword(s):  
Labor Market ◽  
Great Recession ◽  
Older Workers ◽  
Housing Markets ◽  
Individual Heterogeneity ◽  
Subjective Probabilities ◽  
Retirement Plans ◽  
Labor Market Conditions ◽  
The Great Recession ◽  
Retirement Study

We examine changes in subjective probabilities regarding retirement between the 2006 and 2008 waves of the Health and Retirement Study. Using a first-difference approach to eliminate individual heterogeneity, we find that the steep drop in asset prices in 2008 increased the reported probability of working at age 62 during the Great Recession. Increasing unemployment at least partly attenuated this effect, but subjective probabilities of working did not respond to changes in housing markets. Older workers' probabilities of working were more sensitive to fluctuations in the stock market, but less responsive to changes in labor market conditions.

scholarly journals Rynek pracy województwa dolnośląskiego w okresie spowolnienia gospodarczego

2011 ◽  
Vol 18 ◽  
pp. 37-50
Author(s):  
Paweł Brezdeń ◽  
Waldemar Spallek
Keyword(s):  
Labor Market ◽  
Great Recession ◽  
Global Financial Crisis ◽  
The European Union ◽  
The Great Recession ◽  
Regional Labor Market ◽  
Regional Labor ◽  
Economic Slowdown ◽  
The Global Financial Crisis ◽  
The Impact

The article focuses on processes of the regional labor market during the economic slowdown that resulted from the global financial crisis in years 2007–2009, which is also called the Great Recession. The labor market’s situation is the result of the interaction of many complex processes. On the one hand, it is a derivative of the level of development and structure of the economy; on the other hand, the shape of the labor market is influenced by the changes associated with an ever-increasing integration of Poland with the European Union. In recent years, global economic processes, especially connected with the Great Recession, also play a significant role in shaping the situation of regional labor markets. The article presents the trends of development of the labor market in the region in years 2000–2009 in the field of economic activity and employment rates taking into consideration the selected demographic and economic categories of the population. The particular attention is devoted to the issues of development of unemployment and its typology. These elements of the labor market were presented in the local systems of the region with an indication of their spatial variation and intensity.On the basis of identified regularity of development of the studied phenomenon, the authors made an attempt to identify and evaluate the impact of the economic slowdown on the regional labor market at the local and regional level.

Great Recession impact on European labor markets integration: cluster analyses

2017 ◽  
Vol 38 (7) ◽  
pp. 1016-1035
Author(s):  
Helene Syed Zwick ◽  
Sarfaraz Ali Shah Syed
Keyword(s):  
European Union ◽  
Labor Market ◽  
Great Recession ◽  
The European Union ◽  
Integration Process ◽  
Multivariate Statistical Methods ◽  
Multivariate Statistical ◽  
Content Type ◽  
The Great Recession ◽  
The Impact

Purpose The purpose of this paper is to assess the impact of the Great Recession (2008-2014) on the labor market profiles and integration process in the European Union (EU26) and in the 12 historical Eurozone countries. Design/methodology/approach This study assesses the impact of the crisis, and applies multivariate statistical methods containing a principal component analysis and an agglomerative hierarchical clustering. Two non-overlapping sub-periods are established: a pre-crisis (1999-2007) period and a crisis (2008-2014) period, and eight European indicators are considered. Findings The results are threefold. First, they bring strong evidence of a significant impact of the crisis on the process of integration. Second, they interestingly reveal more heterogeneity in the aftermath of the crisis across the EU countries, while more homogeneity across the Eurozone countries. Third, this apparent homogenization is accompanied by a polarization process into two main groups of countries including Spain, Portugal, Finland and the Netherlands in one group while the rest of the Eurozone in the other. Originality/value This study is unique as it does not only present a snapshot of the challenges posed by the Great Recession to the European Union and Eurozone labor market profiles, but it also assesses its impact on their integration process. In addition, using the, suitable yet ignored, multivariate statistical methods on the latest data to study such an impact is another contribution of this paper.

Implications of higher retirement age for the labor market

2017 ◽  
pp. 22-39 ◽  
Author(s):  
M. Ivanova ◽  
A. Balaev ◽  
E. Gurvich
Keyword(s):  
Economic Growth ◽  
Labor Market ◽  
Labor Supply ◽  
Labor Force ◽  
Labor Demand ◽  
Retirement Age ◽  
Demographic Trends ◽  
Men And Women ◽  
Demographic Projections ◽  
The Impact

The paper considers the impact of the increase in retirement age on labor supply and economic growth. Combining own estimates of labor participation and demographic projections by the Rosstat, the authors predict marked fall in the labor force (by 5.6 million persons over 2016-2030). Labor demand is also going down but to a lesser degree. If vigorous measures are not implemented, the labor force shortage will reach 6% of the labor force by the period end, thus restraining economic growth. Even rapid and ambitious increase in the retirement age (by 1 year each year to 65 years for both men and women) can only partially mitigate the adverse consequences of demographic trends.

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